Wallaceville
11-15 Jepsen Grove, Wallaceville, Upper Hutt
+12
Money Vault - Inland Revenue - 9 Year Lease
A secure yield play underpinned by the premium tenant covenant of the Crown. Developed for Inland Revenue, the property is a substantial complex totalling 4,993sqm with 130 car parks. Inland Revenue has been in occupation since its completion and entered a new nine-year lease from 10 February 23.
The strong cashflow profile and Crown covenant is underpinned by a large site of 13,625sqm. There is positive opportunity for rental growth in 2 years with the offices leased at conservative rentals. Building has been strengthened.
If you're looking for a yield play, underpinned by a premium tenant on a long-term lease, this investment is going to be hard to beat!
To obtain copies of all supplementary documents please register your details at https://www.propertyfiles.co.nz/property/11_15JepsenGrove
• Inland Revenue new nine-year lease
• Substantial complex with Inland Revenue in occupation since construction
• Building 4,993sqm plus 130 car parks on large 13,625sqm site
• Net income $930,783pa - secure cashflow with rental upside
Grant Young
Capital Commercial 2013 Ltd, Bayleys,
Licensed under the REA Act 2008
Mark Sherlock
Capital Commercial 2013 Ltd, Bayleys,
Licensed under the REA Act 2008
Features
A-grade
Inland Revenue as tenant
Occupancy
Inland Revenue in occupation since completion
Lease
9 years from 2023
Passing income
$930,783pa net + GST
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